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Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Reportable Segment Financial Information

The following table summarizes the reportable segment's financial information:

			Years Ended December 31,
(dollars in millions)			2025						2024						2023
Revenue			$	262.6					$	263.4					$	78.5
Less:
Research and development expense
Program-specific external expense:
Vepdegestrant (ARV-471) (*)			62.7						76.9						104.8
ARV-102			21.0						13.0						2.3
ARV-806			13.5						2.3						—
ARV-393			11.1						6.8						1.4
Bavdegalutamide (ARV-110)			2.7						8.5						26.6
Luxdegalutamide (ARV-766)			—						19.7						24.2
Other programs			4.5						—						—
Non program-specific external expense			49.1						62.8						72.4
Compensation and related personnel expense (including stock-based compensation)			109.6						145.4						134.2
Other research and development expense			11.0						12.8						13.8
Total research and development expense			285.2						348.2						379.7
General and administrative expense			95.9						165.4						100.3
Other segment expense, net (**)			0.4						2.9						1.2
Income tax expense			0.3						0.6						0.9
Loss from equity method investment			—						—						2.5
Plus:
Interest income, net			38.4						54.8						38.8
Segment net loss			$	(80.8)					$	(198.9)					$	(367.3)

(*)    Includes net reimbursement to and from Pfizer pursuant to the Vepdegestrant (ARV-471) Collaboration Agreement which are accounted for pursuant to ASC 808 and are recorded as an offset or an increase to research and development expenses.

(**)    Includes loss on disposal of fixed assets, realized gains/ losses on sale of marketable securities and refundable research and development credits from the State of Connecticut.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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